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Washington (CNN) -- Massachusetts Congressman Barney Frank, a prominent 16-term liberal Democrat and arch-enemy of political conservatives nationwide, will announce Monday he does not intend to seek re-election in 2012, according to a statement from Frank's office.

Frank will hold a news conference in his district to discuss the decision at 1 p.m.

Gun Control: The theory that a woman found dead in an alley, raped and strangled with her panty hose, is somehow morally superior to a woman explaining to police how her attacker got that fatal bullet wound - Unknown

From David Hawkings' Daily Briefing (Congressional Quarterly/Rollcall) which comes into my inbox every day at lunchtime:

"The decision amounts to a tacit acknowledgment that he and other Democrats have concluded they have no real shot at reclaiming the House majority next fall, when Frank will be 72. (He is the ninth House Democrat this year to announce retirement plans.)"

"Today, [the American voter] chooses his rulers as he buys bootleg whiskey, never knowing precisely what he is getting, only certain that it is not what it pretends to be." - H.L. Mencken

The 16-term lawmaker, whose name is emblazoned on the banking reform law that passed Congress last year, had long been rumored to be ready for retirement. He was previously chairman of the House Financial Services Committee but is now ranking member since Democrats lost the majority in the 2010 midterm election.

The Dodd-Frank law, a contentious set of provisions that Republicans say add layers of regulatory burdens without preventing potential future meltdowns, was made in response to the near collapse of the banking industry in 2008. Among other actions, it created a Consumer Financial Protection Bureau to oversee access to banking products and required listing ratios of executive pay to median employee salaries.

Frank, 71, was first elected to the House in 1980, and is one of the first lawmakers to announce he is homosexual. >>>

Frank is now the 17th House Democrat to flat-out retire or step aside to seek other office. Republicans have announced seven retirements this cycle. He is also the second House Democrat to announce his retirement in three days and the second Massachusetts Democrat to say he's stepping down. Rep. Charlie Gonzalez of Texas announced his retirement over the weekend. Rep. John Olver decided a few weeks ago not to run for another term.

From David Hawkings' Daily Briefing (Congressional Quarterly/Rollcall) which comes into my inbox every day at lunchtime:

"The decision amounts to a tacit acknowledgment that he and other Democrats have concluded they have no real shot at reclaiming the House majority next fall, when Frank will be 72. (He is the ninth House Democrat this year to announce retirement plans.)"

He had a better way of saying it than I do, but I do believe the Democrats are TOAST!:)